Vonovia Faces Broker Downgrades as CFO Exit and Berlin Policy Fight Converge
Published on 11/11/2026 at 04:51 | Editorial boerse-global.de
Vonovia's finance chief will not be staying on. Philip Grosse has told the supervisory board he won't extend his contract, which runs out at the end of 2027, according to a Reuters report dated 4 November. He will remain in the post until a successor is in place.
The disclosure lands alongside a pair of broker notes that point in the same direction but stop short of the same verdict. Goldman Sachs trimmed its price target on the landlord from EUR 18.20 to EUR 17.70 on Friday while keeping a "Neutral" rating. JPMorgan, which cut its own target on 3 November from EUR 26.00 to EUR 24.50, stayed at "Overweight."
Guidance Narrowed to Lower Half
Both houses are working off the same operating picture. Vonovia reported adjusted EBITDA of EUR 2.19 billion for the first nine months of 2026, a gain of 3.3% on the prior-year period. For the full year the company now expects adjusted EBITDA in the lower half of its existing range of EUR 2.95 billion to EUR 3.05 billion.
Should investors sell immediately? Or is it worth buying Vonovia?
Higher interest rates have weighed on both disposal activity and new construction, Reuters noted. Vonovia sold properties worth roughly EUR 900 million across the nine-month stretch.
The shares slipped 1.0% yesterday to close at EUR 17.16.
Demolition Set for Mid-November in Lübeck
On the development side, Vonovia confirmed on Thursday that it will tear down existing buildings on the Damaschkestraße site in Lübeck's St. Jürgen district and put up new housing. Demolition is scheduled to start in mid-November. The replacement scheme will hold 140 apartments, up from the 98 currently there, at an investment of about EUR 30 million.
Chief executive Luka Mucic used the same day to take aim at plans by a possible Berlin coalition government to socialise large landlords. Taking properties into public ownership, he argued, does not create a single additional home.
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Vonovia Stock: New Analysis - 11 November
Fresh Vonovia information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
